Section 1 Short title
This Act may be cited as the “HUBZone Expansion Act of 2015”.
HUBZone Expansion Act of 2015
A BILL
To expand the HUBZone program for communities affected by base realignment and closure, and for other purposes.
Sec. 2 Expanding HUBZone program for communities affected by base realignment and closure
In general— Section 3(p)(5)(A)(i)(I) of the Small Business Act (15 U.S.C. 632(p)(5)(A)(i)(I)) is amended—
in item (aa), by striking “or” at the end;
by redesignating item (bb) as item (cc); and
by inserting after item (aa) the following:
“(bb) pursuant to subparagraph (A), (B), (C), (D), or (E) of paragraph (3), that its principal office is located in a HUBZone described in paragraph (1)(E) (relating to base closure areas) (in this item referred to as the “base closure HUBZone”), and that not fewer than 35 percent of its employees reside in—
“(AA) a HUBZone;
“(BB) the census tract in which the base closure HUBZone is wholly contained;
“(CC) a census tract the boundaries of which intersect the boundaries of the base closure HUBZone; or
“(DD) a census tract the boundaries of which are contiguous to a census tract described in subitem (BB) or (CC); or”
Period for base closure areas—
Amendments—
In general— Section 152(a)(2) of title I of division K of the Consolidated Appropriations Act, 2005 (15 U.S.C. 632 note) is amended by striking “5 years” and inserting “8 years”.
Conforming amendment— Section 1698(b)(2) of National Defense Authorization Act for Fiscal Year 2013 (15 U.S.C. 632 note) is amended by striking “5 years” and inserting “8 years”.
Effective date; applicability— The amendments made by paragraph (1) shall—
take effect on the date of enactment of this Act; and
apply to—
a base closure area (as defined in section 3(p)(4)(D) of the Small Business Act (15 U.S.C. 632(p)(4)(D))) that, on the day before the date of enactment of this Act, is treated as a HUBZone described in section 3(p)(1)(E) of the Small Business Act (15 U.S.C. 632(p)(1)(E)) under—
section 152(a)(2) of title I of division K of the Consolidated Appropriations Act, 2005 (15 U.S.C. 632 note); or
section 1698(b)(2) of National Defense Authorization Act for Fiscal Year 2013 (15 U.S.C. 632 note); and
a base closure area relating to the closure of a military instillation under the authority described in clauses (i) through (iv) of section 3(p)(4)(D) of the Small Business Act (15 U.S.C. 632(p)(4)(D)) that occurs on or after the date of enactment of this Act.